Sportradar Group, the global sports betting and data provider, has announced the pricing of its initial public offering of 19 million Class A ordinary shares at a price of $27.00 per share, available to the public.
In addition to this, Sportradar’s Founder and CEO, Carsten Koerl, has granted a 30-day option to underwriters to purchase up to an additional 2,850,000 Class A ordinary shares at the initial public offering price.
The shares are expected to begin trade on the Nasdaq Global Select Market on Tuesday, 14 September 2021. This can be seen under the ticker symbol “SRAD”. This offering is scheduled to close on 16 September 2021, subject to customary closing conditions.
The companies acting as lead book-running managers are: J.P Morgan, Morgan Stanley, Citigroup and UBS Investment Bank. Joint book-running managers are: BofA Securities, Deutsche Bank Securities, Jefferies and Canaccord Genuity, with Co-managers; Needham & Company, Benchmark Company, Craig-Hallum, Siebert Williams Shank and Telsey Advisory Group.
A statement on Form F-1 relating to these securities was declared as effective by the US Securities and Exchange Commisson of 13 September 2021.
Sportradar has established itself as a provider of sports betting, and sports entertainment products and services. The company is cemented at the intersection of sports media and sports betting operators, with aims to grow its business globally, having employed more than 2,300 full-time employees across 19 countries.
The business also serves as an official partner of the National football leagues; NBA, NHL, MLB, NASCAR, and FIFA.